Above all else, be realistic

It’s easy to get excited about a new idea. It’s hard to evaluate that idea realistically and realize that maybe you’re not in an advantageous position to take the product to market.It’s hard to come to grips with the fact that you have no idea how to acquire lots of customers or make enough revenue per user to create a sustainable business out of it.

That’s also why I’m not the one who’s most qualified to evaluate your idea.Is it any good?I have no idea.Is it viable, and are you the best person to pull it off?The answer lies in the response to those three magical questions.

Wil Schroter has founded nine Internet companies in the last 20 years.At age 19, he started his first company, Blue Diesel, which merged with what is today inVentiv. He is currently CEO and cofounder of Fundable.com, a crowdfunding platform for small businesses. And he is also the founder and CEO of Virtucon Ventures, an early-stage incubator that has launched Swapalease.com, GotCast.com, Bizplan.com, Unsubscribe.com, and Affordit.com.

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